Wells Fargo & Company MN Purchases 8,397 Shares of Logitech (LOGI)
Wells Fargo & Company MN raised its position in Logitech (NASDAQ:LOGI) by 25.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 41,298 shares of the technology company’s stock after acquiring an additional 8,397 shares during the quarter. Wells Fargo & Company MN’s holdings in Logitech were worth $1,389,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of LOGI. Stifel Financial Corp lifted its position in shares of Logitech by 22.7% during the 3rd quarter. Stifel Financial Corp now owns 40,281 shares of the technology company’s stock worth $1,475,000 after buying an additional 7,455 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of Logitech during the 3rd quarter worth approximately $670,000. Atria Investments LLC purchased a new stake in shares of Logitech during the 4th quarter worth approximately $204,000. Lenox Wealth Management Inc. lifted its position in shares of Logitech by 28.8% during the 4th quarter. Lenox Wealth Management Inc. now owns 21,503 shares of the technology company’s stock worth $726,000 after buying an additional 4,810 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in shares of Logitech by 142.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,204,941 shares of the technology company’s stock worth $40,681,000 after buying an additional 708,752 shares during the last quarter. Institutional investors own 35.11% of the company’s stock.
Several analysts have recently weighed in on the stock. BidaskClub upgraded shares of Logitech from a “hold” rating to a “buy” rating in a research report on Saturday, January 20th. DA Davidson assumed coverage on shares of Logitech in a research report on Thursday, March 15th. They set a “buy” rating and a $46.00 price objective for the company. ValuEngine upgraded shares of Logitech from a “hold” rating to a “buy” rating in a research report on Friday, March 2nd. JPMorgan Chase downgraded shares of Logitech from a “neutral” rating to an “underweight” rating and set a $40.00 price objective for the company. in a research report on Tuesday, February 6th. Finally, Citigroup boosted their price objective on shares of Logitech from $44.00 to $47.00 and gave the stock a “buy” rating in a research report on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. Logitech presently has a consensus rating of “Buy” and an average price target of $45.33.
Shares of NASDAQ:LOGI opened at $37.70 on Friday. The company has a market cap of $6,198.81, a PE ratio of 32.50, a P/E/G ratio of 4.63 and a beta of 0.90. Logitech has a twelve month low of $30.64 and a twelve month high of $43.54.
Logitech (NASDAQ:LOGI) last announced its earnings results on Monday, January 22nd. The technology company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.10. The business had revenue of $812.02 million for the quarter, compared to analysts’ expectations of $753.47 million. Logitech had a net margin of 8.10% and a return on equity of 23.38%. research analysts expect that Logitech will post 1.25 earnings per share for the current fiscal year.
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Logitech International SA, through its subsidiaries, designs, manufactures, and markets products that allow people to connect through music, gaming, video, computing, and other digital platforms worldwide. The company offers portable wireless Bluetooth speakers, PC speakers, PC headsets, in-ear headphones, and wireless audio wearables; gaming mice, keyboards, headsets, mousepads, and steering wheels and flight sticks; and audio and video, and other products that connect small and medium sized user groups.
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